Charity group Oxfam has warned that a recession caused by Covid-19 could push an extra half a billion people into poverty – 8 percent of the world’s population – unless urgent action is taken.
A global recession could reverse up to three decades of improvements in living standards and, according to one estimate, push 420-580 million people worldwide into poverty. The World Food Program, has warned that COVID-19 will likely double the number of people suffering from acute hunger, to 265 million.
- COVID-19 could spark a global recession, reversing up to three decades of improvements in living standards.
- According to one estimate, 420-580 million people worldwide could be pushed into poverty.
- It’s vital that governing bodies and world banks work together to support the countries than are unable to support themselves, write two former world leaders and two economists.
The most serious scenario involves a 20 percent fall in income which would result in an additional 548 million people earning less than the World Bank poverty threshold of $5.50 per day.
Poverty rate increased from 7.2 percent to 9.8 percent
Between 2015 and 2018, the poverty rate in Thailand increased from 7.2 percent to 9.8 percent, and the absolute number of people living in poverty rose from 4.85 million to over 6.7 million. The increase in poverty in 2018 was widespread – occurring in all regions and in 61 out of 77 provinces.
Although lockdowns are being eased in many places, the daily number of new COVID-19 cases worldwide recently reached its highest level yet, while the pandemic’s devastating economic toll continues to mount as new epicenters arise in the emerging and developing world.
We are at a critical moment, because the poorest countries in Africa, Asia, and Latin America are facing economic and public-health emergencies that demand immediate action. A diverse group of middle-income economies need help, too. Together, these countries represent nearly 70% of the world’s population and account for approximately one-third of global GDP.
National News Bureau Of Thailand
BANGKOK (NNT) – The Commerce Ministry has launched measures to increase rice exports to 6 million tons this year, valued at around 150 billion baht, with Indonesia, China, Bangladesh and Iraq set to be the main markets under government-to-government (G2G) deals.
Commerce Minister Jurin Laksanawisit said G2G deals and a campaign to make Thai rice more recognizable around the world will spearhead efforts to increase the export volume from last year’s 5.7 million tons.
He said the ministry is working with the Thai Rice Exporters Association to promote Thai rice under the “Think Rice, Think Thailand” campaign, adding that Thailand successfully made Thai rice become better known in Canada, increasing its exports to the country by 21% to 120,000 tons last year.
Mr Jurin said one of the distinctive characteristics of Thai rice is its very low sugar content. This would make it the preferred choice among Canadians as 28% of the Canadian population has high blood sugar levels.
Bangkok Metropolitan Energy Authority (MEA) partners with Chineses owned Newsky Energy (Thailand) Company
The MEA has signed a Memorandum of Understanding with private firm Newsky Energy Thailand on co-investment arrangements for waste-to-energy power plants in the Nong Khaem and On Nut districts of Bangkok, a project costing about 10 billion baht.
MEA Governor Kirapat Jiamset, said today that each of the waste-to-energy plants will have a generating capacity of 35 megawatts of electricity using 1,000 tons of waste as fuel each day.
Mr Kirapat said the two power plants will be introduced along with the smart grid system, which allows communities in service areas to receive power entirely from these plants, independent of the main power lines.
New Sky Energy Thailand CEO He Ning said the company has been working with the Bangkok Metropolitan Administration to operate a waste-to-energy incinerator at Nong Khaem dump, which converts 500 tons of garbage into electricity each day.
Operating since 2016, Mr Ning said the incinerator has been continuously feeding electricity to the MEA, with systems in place to take care of the environment and nearby communities.
The proposed new waste-to-energy plants are currently in the public consultation process. The construction of these projects is expected to commence later this year, and come online in the electricity grid in 2024.
According to the Department of Business Development, Newsky Energy (Thailand) Company Limited is currently registered as an electric power generation and transmission company in Thailand. The company is 100% owned by Chinese investors and reported a -7.25% net profit in the fiscal year 2019.
Thailand sets export growth target at 4% for 2021
BANGKOK (NNT) – Thailand has seen export growth of 0.35 per cent in the first month of the year. The Commerce Minister has ordered the Department of International Trade Promotion to advance an action plan to accelerate growth, which is set at 4 per cent this year.(more…)
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